Affordable Care Act discussed at event

Published: Monday, September 30, 2013 at 7:28 p.m.

Last Modified: Monday, September 30, 2013 at 7:28 p.m.

According to Debbie Wright, who is a worker's compensation risk specialist, the Affordable Care Act is here regardless of what politicians decide to do. She said that the ACA, commonly known as ObamaCare, is active legislation and employers must start complying now.

"This is a law that was signed on March 23, 2010," she said. "I know people who say they don't have to worry about it because it is not going to happen or when we have another election, they will throw it out. Even if that is the case, it is a law today."

Wright was the featured speaker on Monday at an event sponsored by the Davidson County Community College Small Business Center and held at the Mary Rittling Conference Center to help small business owners understand what the new comprehensive health care law means for them.

Although she said up front that she is no expert on the ACA, Wright has over 25 years of experience as a registered nurse and has been a case manager at Breakthrough Access Solutions, a business management consulting group based in Oak Ridge.

"The first question people always ask is what does this mean for them," she said. "The problem is that there is so much that we don't know so we aren't sure."

She says the Affordable Care Act was started to bring insurance costs down, to provide insurance for everyone and to eliminate pre-existing conditions. Although it still remains to be seen whether these goals will be reached, the point is businesses must start complying now.

The open enrollment period for individual and family health insurance plans under the Affordable Care Act begin Oct. 1 and ends March 31, 2014. Open enrollment periods in following years will be shorter than this one-time, six-month period. This federal program is for people who are not subject to an exemption or who do not have qualifying coverage, such as employer-sponsored health insurance. Exemptions include people currently on Medicaid/Medicare, those who are within the set poverty limit criteria and those of Native American descent who are eligible for services through an Indian health care provider.

Small business owners who employ less than 49 full-time employees are not required to provide health insurance. Wright says that cutting all employees to part-time or reducing their hours will not qualify them for exemption. The formula used to determine how many full-time employees a company has combines all the hours every employee works, whether they are full-time or part time, and then divides that number by the 30-hour work week, which is what the program defines as full time.

Wright also said that employers must be wary of losing employees if they start making radical changes to their health insurance coverage or dropping coverage.

"You shouldn't be spending your time trying to get around the law," Wright said. "You should be trying to see what in the law will work for your business."

For businesses that do employ less than 50 employees and have 70 percent of their workforce insured, they can apply for the Small Business Health Options Program (SHOP) where they may qualify for a small business health care tax credit worth up to 50 percent of premium costs.

As of Oct. 1, all business owners are required to notify their employees by letter, informing them of their choices as it relates to health insurance, but they will not be fined as previously mandated. This allows employees an opportunity to participate in the employer-paid insurance or to purchase an individual plan.

Wright says the best way to discover what is best for your company is to sit down with a knowledgeable insurance agent who has a working knowledge of the Affordable Care Act. She also said to have frank discussions with your accountant or business manager about what your company can afford to provide.

"You must make a decision on what is best for you and your employees," said Wright. "It is just good business practice to let your employees know what their options are and what your company can provide. Let them decide what is best for them."

Sharon Myers can be reached at 249-3981, ext, 228 or at sharon.myers@the-dispatch.com.

<p>According to Debbie Wright, who is a worker's compensation risk specialist, the Affordable Care Act is here regardless of what politicians decide to do. She said that the ACA, commonly known as ObamaCare, is active legislation and employers must start complying now.</p><p>"This is a law that was signed on March 23, 2010," she said. "I know people who say they don't have to worry about it because it is not going to happen or when we have another election, they will throw it out. Even if that is the case, it is a law today."</p><p>Wright was the featured speaker on Monday at an event sponsored by the Davidson County Community College Small Business Center and held at the Mary Rittling Conference Center to help small business owners understand what the new comprehensive health care law means for them.</p><p>Although she said up front that she is no expert on the ACA, Wright has over 25 years of experience as a registered nurse and has been a case manager at Breakthrough Access Solutions, a business management consulting group based in Oak Ridge. </p><p>"The first question people always ask is what does this mean for them," she said. "The problem is that there is so much that we don't know so we aren't sure."</p><p>She says the Affordable Care Act was started to bring insurance costs down, to provide insurance for everyone and to eliminate pre-existing conditions. Although it still remains to be seen whether these goals will be reached, the point is businesses must start complying now. </p><p>The open enrollment period for individual and family health insurance plans under the Affordable Care Act begin Oct. 1 and ends March 31, 2014. Open enrollment periods in following years will be shorter than this one-time, six-month period. This federal program is for people who are not subject to an exemption or who do not have qualifying coverage, such as employer-sponsored health insurance. Exemptions include people currently on Medicaid/Medicare, those who are within the set poverty limit criteria and those of Native American descent who are eligible for services through an Indian health care provider.</p><p>Small business owners who employ less than 49 full-time employees are not required to provide health insurance. Wright says that cutting all employees to part-time or reducing their hours will not qualify them for exemption. The formula used to determine how many full-time employees a company has combines all the hours every employee works, whether they are full-time or part time, and then divides that number by the 30-hour work week, which is what the program defines as full time.</p><p>Wright also said that employers must be wary of losing employees if they start making radical changes to their health insurance coverage or dropping coverage.</p><p>"You shouldn't be spending your time trying to get around the law," Wright said. "You should be trying to see what in the law will work for your business."</p><p>For businesses that do employ less than 50 employees and have 70 percent of their workforce insured, they can apply for the Small Business Health Options Program (SHOP) where they may qualify for a small business health care tax credit worth up to 50 percent of premium costs.</p><p>As of Oct. 1, all business owners are required to notify their employees by letter, informing them of their choices as it relates to health insurance, but they will not be fined as previously mandated. This allows employees an opportunity to participate in the employer-paid insurance or to purchase an individual plan.</p><p>Wright says the best way to discover what is best for your company is to sit down with a knowledgeable insurance agent who has a working knowledge of the Affordable Care Act. She also said to have frank discussions with your accountant or business manager about what your company can afford to provide.</p><p>"You must make a decision on what is best for you and your employees," said Wright. "It is just good business practice to let your employees know what their options are and what your company can provide. Let them decide what is best for them."</p><p>Sharon Myers can be reached at 249-3981, ext, 228 or at sharon.myers@the-dispatch.com.</p>